Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Share Closing Bell: Overtime Bob Elliott, Unlimited CEO, joins ‘Closing Bell: Overtime’ to discuss the impact of closing Silicon Valley Bank and the impact it could have on the broader market. 04:10 Fri, Mar 10 20234:36 PM EST Source: The venture capital community basically created a run on SVB, says Unlimited CEO Bob Elliott
People gathering outside the bank following the second largest bank collapse in US history. (Source) My first thought was of the people with jobs. The regular people who, in a combination of trust and ease, placed their money and their futures into an institution of American Society that has let down its customers again. This is…
After three decades of being part of the Silicon Valley ecosystem — as a reporter, writer, entrepreneur, and investor — I thought I had seen it all. The boom-bust cycles, stock market manias, startup insanity, attack on America itself, and the most significant financial calamity in nearly a century — living through history prepares you…
The seizure of Silicon Valley Bank by regulators Friday morning shows how brittle financial institutions can be in the digital age. The downfall of the Valley institution, which has been called “the backbone of the startup economy,” was caused by a good old-fashioned bank run, but one that ran at internet speed. The run began…
“When you’re not working, what do you do to de-stress?” That was the last question Greg Becker, CEO of Silicon Valley Bank, fielded at an investor conference on Tuesday this week. “Cycling is my advice,” he replied. “Living in Northern California and being on the peninsula. That’s just—I think it’s the best bike-riding cycling in…
Treasury Secretary Janet Yellen said on Sunday that the U.S. government would not bail out Silicon Valley Bank, but is concerned about depositors reeling from what is the worst bank failure since the 2008 financial crisis and will try to help them. The sudden collapse of Silicon Valley Bank, the lifeblood of young tech firms,…
WILMINGTON, Del. (AP) — Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money. The Federal Deposit Insurance Corporation insures deposits up to $250,000, but many of the companies and wealthy people who used the bank…
After successfully lobbying for the rollback of new rules applied to Wall Street in the wake of the financial crisis, lobbyists for Silicon Valley Bank immediately began pressing their case further to the federal authority that insures bank deposits in the event of another crisis, according to lobbying disclosures reviewed by The Intercept. The lobbying effort managed…
Young companies raced to get their money out of the bank, which was central to the start-up industry. Some said they could not make payroll. Friday at the headquarters of Silicon Valley Bank, which has been a financial partner to start-ups and venture capital firms.Credit…Jeff Chiu/Associated Press Erin Griffith Erin Griffith reports on start-ups…
© Provided by Business Insider Peter Thiel was a cofounder of PayPal. Marco Bello/Getty Images Peter Thiel’s Founders Fund withdrew all its funds from Silicon Valley Bank, Bloomberg reported. His VC fund took action after encountering problems with transfers, per the report. The fund had no cash in with SVB by Thursday morning, Bloomberg reported….